Property profile

18706 Springfield Rd Groveland, IL 61535

OFF-MARKET
Turn key restaurants
Property ID
US28-2207021
2,610 SF 0.56 ac lot Built 1937
Individually Owned 8-yr Hold ~ Est. High Equity
Saved · see the list in your Dashboard

Property summary

AI-generated overview

This exceptional turnkey business opportunity in Groveland, IL, presents a well-established restaurant spanning 2,610 square feet on a 0.56-acre lot at 18706 Springfield Road. The property boasts a rich history, having operated successfully under the same ownership for 34 years. Included in the sale price of $400,000 are the building, land, existing business, and all equipment. The equipment is modern and recently upgraded, featuring brand-new exhaust systems in the kitchen. The restaurant includes a walk-in cooler currently in use, plus a second walk-in cooler available as an option. The exterior has been recently updated, enhancing curb appeal. The spacious interior comfortably seats 140 guests, divided between two dining rooms and a dedicated banquet area, perfect for larger events. Ample parking is provided with over 50 spaces, ensuring convenient access for patrons. The property's prominent location on Springfield Road ensures high visibility and accessibility. A loyal and dedicated staff contributes to the smooth and efficient operation of this thriving business. This is a rare opportunity to acquire a profitable, established business with significant potential for continued growth. The combination of a strong business history, updated facilities, and prime location makes this an attractive investment.

Property profile

Verified
Property type Turn key restaurants
Use group RESTAURANT
Year built 1937
Total area 2,610 SF
Lot 0.56 ac (24,394 SF)
APN 05-05-27-201-007
UPID US28-2207021

Cap rate & NOI

Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors

Location

18706 Springfield Rd Groveland, IL 61535-9506
Groveland metro Census 21500 PEORIA, IL METROPOLITAN STATISTICAL AREA
Google Maps

Value estimations

Realmo proprietary · 4 methods
AI Approach AI
$260k
CAP Approach CAP
by Request
Comparable Approach Comparable
by Request
Blend (final) Blend
$260k

Owner & transaction history

since 2018
7 recorded transactions
2018
Price N/A
2016
Price N/A
2010
Price N/A
2008
Price N/A
2008
Price N/A
2008
Price N/A
2007
Price N/A

Comparables

6 recent transactions · within 1.5 mi
Comparable in this city
6 recent transactions
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Try Rey
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
You own 18706 Springfield Rd?
List it free. Reach 20,000 daily buyers.
We’ve already pulled the facts. Confirm photos + price and you’re live in 2 minutes.
More about this property
Thanks! Your message was sent.
Error! Your message wasn't sent.
Please enter your name
Please enter email
Please enter the email in the correct format
Please enter phone
Please enter the number in the correct format
Please enter message